26/01/14 | International Islamic Announces the Financial Results For The Year Ended 31 December 2013

International Islamic Chairman and Managing Director HE Sheikh Dr Khalid bin ThaniAl-Thani announced the bank's financial results for year 2013.

The results showed the bank's leading position in Qatar's financial system.

The announcement came after a meeting of the bank's Board of Directors (BOD) presided over by Sheikh Dr Khalid, to discuss the financial statement of the bank for the financial year 2013.

The results indicated that International Islamic earned total revenue of QR 1.5 billion in 2013. And the net profit reached QR 750 million in end of year 2013, showing a growth of 10.5% compared to year 2012.

Also Earnings per share reached QR 4.96 compared to QR 4.49 in 2012.

Also, the Board of Directors recommended to the ordinary annual general meeting of shareholders AGM (regular) the distribution of a cash dividend of 37.5%  of the nominal value share {QR 3.75 per share ) ,compared with QR 3.5 per share in 2012.{The financial Results for 2013 along with the profit distribution are Subject to Qatar Central Bank (QCB)approval}.

Sheikh Dr Khalid said the results showed the bank has made good growth across all portfolios of its business.

This means International Islamic continues to maintain its integral part in the growth of Qatar economy in all spheres.

This is under the wise leadership of HH the Emir, Sheikh Tamim bin Hamad Al-Thani.

Sheikh Dr Khalid said International Islamic's strategy is to participate in the financing of various projects and sectors, especially in mega projects such as the infrastructure upgrade, in line with Qatar National Vision 2030.

Qatar has now become the main hub for growth and investments in the region. In light of this growth, International Islamic faces the challenges of meeting the needs of the larger economy.

Sheikh Dr Khalid said the International Islamic Board of Directors always maintained a strategy to participate in all scales of projects - large, medium and small.

By participating in these projects, the bank has benefitted, and thus has been able to meet its shareholder's aspirations.

"This has been guided by an honest policy in risk management", he said.

Sheikh Dr Khalid said the bank would be able to perform better in future and hoped growth would be even stronger in the years ahead.

He thanked all efforts made by the bank's top executive management and employees in implementing bank plans, achieving growth, and providing comprehensive service to clients.

This has placed the bank in a good position and helped it consolidate its position in Islamic financing, Sheikh Dr Khalid said.

On his part, International Islamic CEO, Mr. Abdulbasit A.Al-Shaibei said the results showed the bank achieved aTotal income of QR 1,458 million compared with QR 1,183 million in the last year, this means a growth of 23.2%.

Customer deposits totaled QR 24.4 billion in 2013, showing a growth of 24.3 % by the year-end, compared with QR 19.6 billion in the end of 2012.

Financing Assets grow up to QR 19.0 billion compared with QR 14.7 billion in year 2012 which indicate 29.6% up .

Mr. Abdulbasit A.al-Shaibei said the bank's Total Assets stood at QR 34.4 billion in 2013-ends, this shows a growth of 20.5%.

Total shareholder equity stood at QR 5.3 billion, and the Capital adequacy ratio under Basel II stood at 18.9% in 2013-end.

Mr. Abdulbasit A.al-Shaibei said the results again confirmed that the bank maintained its stable growth. The bank has always been on a stable growth trajectory.

In 2013, by God's grace, we won the challenge and we achieved good growth, in line with Qatar economy.

This growth reflects our involvement in various sectors of the Qatari economy. Financing sector led other sectors in growth.

Mr. Abdulbasit A.A-Shaibei said 2013 was a year that presented a lot of opportunities to the bank.

"We participated in financing various projects in Qatar. We also took part in investment opportunities abroad and these were done based on feasibility studies and backed by a good risk management policy.

Because of this, we have registered an impressive growth and performance, which we believe will continue in future.

Mr. Abdulbasit A.Al-Shaibei said International Islamic focused on the local market, because there are lot of opportunities and stability in Qatar.

"We want to support Qatar economy. But this does not mean we will ignore opportunities outside. We will look for safe opportunities abroad that provide good returns for the bank and its shareholders alike."

Mr. Abdulbasit A. Al-Shaibei also said 2013 witnessed customer growth for the bank.  In view of this, the bank has opened new branches that offer comprehensive services to customers.

"We have planned to open dedicated branches for our VIP customers".

Mr. Abdulbasit A. Al-Shaibei said International Islamic is interested in technology and focused significantly on human resources. "We provide good training to our employees. We believe this is important in the rapidly developing banking industry."

Focusing on technological challenges in view of the rapidly evolving global banking industry, M. Abdulbasit A.Al-Shaibei said, "We have invested in latest technology in the banking sector. This is to ensure that we keep pace with technology even as we ensure safe and secure banking."

"We have designed and developed new services in Islamic Financing, which are good for our customers. Some of these are trend setting initiatives in the global Islamic banking."

On International Islamic human resources, he said 2013 was a very special year for Qatari employees.

"We organised career day specifically for Qataris. We selected as many as 62 Qataris to be part of the bank.

"And in various divisions, we have provided them training. We are committed to Qatarisation and support the government's policy of promoting nationals in the banking sector.

"We also have made several other initiatives in Qatarisation.  Many Qataris were recruited to the bank in the recent years and we will continue this. This is because we believe Qataris have the right talent to lead the Qatari banking sector. They can be leaders at all levels of the bank."

On Corporate Social Responsibility, Abdulbasit A.al-Shaibei said for International Islamic CSR is a responsibility.

"We lay a lot of emphasis on CSR activities. We regularly support various activities in education, sport and health and other areas that benefit our society



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